Aviva Equity Release Solicitor Panel Example Support Desk Enquires from members of the public
My fiance and I are purchasing a 3 bedroom flat in Newcastle with a mortgage from Aviva Equity Release. We like our solicitor but Aviva Equity Release says she’s not on their "panel". We have to appoint one of the Aviva Equity Release panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Aviva Equity Release use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Aviva Equity Release conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Aviva Equity Release
Much to my surprise my lawyer has informed me that he requires personal identification documents saying that this forms part of his obligations as a conveyancer on the Aviva Equity Release Solicitor panel. Am I being spun a yarn?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that Aviva Equity Release also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Aviva Equity Release CML Handbook requirements last updated on Aviva Equity Release
I have been looking for online conveyancing estimates. Can I be sure that all the law firms that are identified on your site are on the Aviva Equity Release conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have advised us that they are on the Aviva Equity Release panel and agreed to advise us to take down their listing in the event of removal off of the Aviva Equity Release panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Aviva Equity Release conveyancing panel is not accurate.
I am thinking of remortgaging my apartment does my lawyer need to be on the Aviva Equity Release Conveyancing panel?
In theory, you could use a solicitor that is not on Aviva Equity Release conveyancing panel, but Aviva Equity Release would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
We expect to receive a DIP from Aviva Equity Release this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Aviva Equity Release recommend a solicitor on the Aviva Equity Release conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Aviva Equity Release conveyancing panel. The solicitor represents both you and the Aviva Equity Release through the process.
I have a mortgage with Aviva Equity Release. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Aviva Equity Release?
You must advise Aviva Equity Release in advance of renting your property as this is likely to be a breach of Aviva Equity Release’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aviva Equity Release directly. It should not be necessary to do this via a Aviva Equity Release conveyancing panel firm.
My ex -wife’s name is on the Aviva Equity Release mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Aviva Equity Release mortgage in order to sell?
In terms of the Aviva Equity Release mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Aviva Equity Release in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.